Flash note: Asian consulting bolt-on
SNP Schneider-Neureither & Partner (SNP) is seeking to acquire 51% of Astrums, a fast-growing consulting and IT services company that offers solutions around various ERP systems in the Malaysian and Singaporean markets. The price has not been disclosed and SNP plans to increase its shareholding in Astrums over the coming years. The deal strengthens SNP’s skills base, increasing the group’s headcount to just fewer than 500, and puts SNP in a strong position to implement transformation projects in Asia. Given that Astrums generates healthy profits, we expect the deal to be immediately earnings enhancing. We expect a further announcement in the next few weeks as SNP would like to conclude the deal swiftly so that Astrums can be consolidated into the FY16 results from the beginning of FY16. We will review our forecasts following its FY15 results on 29 January.
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